BHP's chief commercial officer to step down in January 2027, internal memo shows

BHP's Chief Commercial Officer, Rag Udd, will step down in January, according to an internal memo. Udd, who has worked at BHP for 30 years, oversees key iron ore negotiations with China. His departure leaves a critical role open for the company, as it navigates complex deals with Chinese buyers. Udd was also involved in BHP's potash and copper projects in Canada and Chile.

BHP's chief commercial officer, Rag Udd, will depart at the end of January after 30 years, following Brandon Craig's appointment as CEO. Craig announced Udd's departure in an internal memo, noting Udd will pursue an external opportunity. (BHP)

ASX 200 mining shares outperformed last week. Morgans rated BHP (ASX: BHP) a buy, citing strong performance and copper exposure, with FY26 profit up 9% to $9.8B. Rio Tinto (ASX: RIO) received a hold rating due to iron ore exposure. PLS Group (ASX: PLS) was rated sell, with in-line earnings and a maiden dividend.

NexGen Energy (NXE) is in talks with BHP Group (BHP) for a potential equity stake and financing for its Rook I uranium project. NexGen aims to raise $1 billion over nine months. BHP reported strong financials, with $33 billion in EBITDA and $9.8 billion in free cash flow. NexGen has no revenue but holds $970.25 million in cash. Investors should watch for a formal partnership between the two.

Argentina and Chile approved protocols to integrate three copper projects, unlocking $20.7B in investment. The projects, including Vicuña (Lundin Mining, BHP), NexoAndino, and Filo Sur, span the Andes. Chile's mining council highlights opportunities for suppliers and infrastructure. Argentina aims to boost copper production, with Morgan Stanley forecasting 1.2M tons annually by 2035, generating $26B in exports.

Chile and Argentina revived a 1997 treaty to integrate three copper projects, unlocking over $20.7B in investment. The Vicuña project, involving Lundin Mining and BHP, will share infrastructure. Argentina aims to boost copper production, with Morgan Stanley forecasting $44B in investments and 1.2M metric tons annually by 2035. McEwen Mining and Glencore are also involved in cross-border projects.